COMMENTARYMt Gibson Iron's March quarter was impacted by advanced stripping, the broker notes, leading to reduced sales, lower realised prices and higher costs. Stripping is expected to continue into the June quarter.Sales should increase thereafter and costs reduce and buoyant iron ore prices continue to drive earnings upside momentum, withearnings increasing by 130% and 300% above the broker's forecast in FY22 and FY23 at spot prices.Outperform and $1.00 target retained.FORECASTMacquarie forecasts a full year FY21 dividend of 3.00 cents and EPS of 6.40 cents.Macquarie forecasts a full year FY22 dividend of 7.00 cents and EPS of 21.80 cents.
MGX Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
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